Financial institutions have to adhere to regulatory obligations to stay in business – and for global organisations, that means reporting to many agencies in multiple countries.

Scrutiny from multiple regulators, and differing reporting requirements for suspicious customers, accounts and transactions across multiple jurisdictions makes for a dynamic and complicated environment. On top of this, regulatory disclosures may be delivered by completed documentary forms or by electronic filing to the regulatory body such as the Financial Crimes Enforcement Network (FinCEN).

Tools to simplify, automate and verify this job can help businesses meet obligations to report suspicious activity and significant currency transactions.

NetReveal FinCEN Suspicious Activity Reporting (SAR) Module

The NetReveal FinCEN SAR reporting module simplifies, automates, and creates SAR batch files, providing a clear business workflow for report creation and enabling users to work through a series of stages covering the disclosure requirements. This approach reduces data entry by pre-populating data and information, while ensuring submitted SARs are complete and pass primary error validations.

NetReveal FinCEN Currency Transaction Reporting (CTR) Module

The NetReveal FinCEN CTR module automates CTR and Monetary Instrument Log (MIL) processing, from aggregation and data validation to regulatory filing and tracking. This provides greater accuracy with less effort, and an electronic record that complements a comprehensive AML transaction monitoring program.

Our regulatory filing module enable financial institutions to:

Improve transparency and coverage – Correlate data across your business to the right accounts or entities, ensuring transactions and activities are properly attributed

Reduce manual intervention – Automate the review process, involving staff only when needed and minimizing the effort needed for report processing and filing